Lisbon Golden Visa property programme: Separating fact from fiction

3rd December 2020 - by  Biznews

The programme is pretty much as it was, when it started out in 2012. I think it’s close to €5bn that has flowed into the programme, which has been incredibly valuable to the Portuguese economy and the state of the country as a whole. Right now, it’s business as usual. There have been interesting speculations about an imminent change, but fundamentally the programme has encouraged a massive investment in real estate. Many of our clients at LX Living have seen fit to follow that opportunity which allows you to get the Golden Visa and ultimately, the European passport within the five-six year timeframe.

On speculation and misinformation surrounding the Golden Visa programme:

The success of the programme in Portugal, sort of had the impact of gentrification. Gentrification is a challenge around the world, where wealthier people buy into poorer areas and change the character of those areas. One of the downsides is that more often than not, people are displaced. That’s exactly what has happened – particularly in the city of Lisbon and Porto. Where we focus is Lisbon. There has been a level of gentrification and some sort of backlash. Sadly, these things are unavoidable and need to be confronted, to find some sort of elegant solution – including affordable housing, social housing to accommodate people who no longer can afford to live in areas where their families have lived for centuries.